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Burger King
500 Regional Park Road, Lebanon, VA 24266
$1,565,000
Cap Rate 5.75%
Summary
| Price $1,565,000 | Built/Renov 2000/2019 | Tenant Burger King |
| Cap Rate 5.75% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
3,878
| Lease Start
04-01-2024
| #Units
1
|
| Price/SF $403.56 | Expiration
03-31-2044
| Tenant Type Fast Food/QSR |
| NOI $90,000 | R. Term 20.3 | Ownership Fee Simple |
| Rent/SF
$23.21
| Increases 8.0%/5/yrs | Pop 5Mi 7,123 |
| Lot/AC 1.17 | Options 4/5yrs/8% | AHHI 5Mi $72,375 |
| | |
Lease Highlights
- Long-term operating history | Tenant has been at this location for over 22 years
- Burger King to sign a new 20-year lease with 4 (5-year) options to extend upon close of escrow
- The lease features 8% rental increases every 5 years throughout the initial term and options
- Absolute NNN | Zero landlord responsibilities
- Increases year-over-year sales | Speak with Agent for details
- Seasoned operator | Tenant has been a Burger King franchisee for 35+ years
Location Description
Burger King is positioned on Regional Park Road, which has a daily traffic count of 10,700 vehicles. The property boasts exceptional accessibility and visibility from US Hwy 19 Bypass, where the daily traffic count reaches 21,000 vehicles. It is conveniently located across the highway from a Food City, which is part of a shopping center anchored by a Walmart Supercenter. Additionally, the...
...Features
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Recent renovation
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In location for years
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Near major nationals
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Strategically located
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Highway location
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Long 20+ yr lease
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Strong sales history
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Absolute NNN
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Traded and rated company
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Personal guarantee
...
Maps
Tenant
- Tenant: Burger King
- Guarantor:Franchisee
- Company:Franchisee
- # Units:1
- Tenant S&P: BB
- Moody’s: B1
- Stock:NYSE: QSR
About Tenant
Burger King is an American-based multinational chain of hamburger fast food restaurants, and the second largest fast food hamburger chain in the world. The Burger King menu features their...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 1,172 | 4,881 | 6,797 |
| 2023 Total Population : | 1,175 | 4,981 | 6,976 |
| 2023 Employed Civilian Pop : | 616 | 2,388 | 3,203 |
| 2023 Total Businesses : | 118 | 311 | 341 |
| 2023 Average Household Income : | $ 71,827 | $ 73,353 | $ 73,633 |
| 2023 Total Consumer Spending : | $ 35 M | $ 139 M | $ 194 M |
| 2023 Median Age : | 45 | 45 | 45 |
| 2023 Total Households : | 561 | 2,154 | 3,000 |
| 2023 Pop Age 25+: Bachelor's Degree : | 69 | 433 | 643 |
| 2023 Average Home Value : | $ 207,985 | $ 190,778 | $ 182,618 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Pittston Rd | 2018 | 11,000 | 0.20 mi | |
| US Hwy 19 Byp | Pittston Rd | 2016 | 9,900 | 0.20 mi |
| East Main Street | Hurt St | 2021 | 7,600 | 0.37 mi |
| Main St | Ford Ave | 2016 | 8,300 | 0.39 mi |
| Pittston Road | Overlook Dr | 2020 | 16,000 | 0.41 mi |
| Pittston Rd | Overlook Dr | 2016 | 9,600 | 0.42 mi |
| Main St | Pittston Rd | 2016 | 8,300 | 0.45 mi |
| Pittston Rd | Co Rd 654 | 2016 | 1,500 | 0.46 mi |
| Pittston Road | Pittston Rd | 2020 | 1,400 | 0.52 mi |
| East Main Street | Ridge Dr | 2020 | 4,700 | 0.66 mi |
